trending Market Intelligence /marketintelligence/en/news-insights/trending/EywkrNYvUC6xx88SZXIPeA2 content esgSubNav
In This List

Crescent Cotton Mills fiscal Q3 loss widens 18.2% YOY

Blog

Gold - Geopolitical tensions and inflation remain key drivers

Blog

Lithium and Cobalt - Softer demand weighs on prices

Podcast

Street Talk | Episode 94: Recessionary fears in ’22 overblown, Fed could overtighten

Blog

Insight Weekly: Ukraine war impact on mining; US bank growth slowdown; cloud computing headwinds


Crescent Cotton Mills fiscal Q3 loss widens 18.2% YOY

Crescent Cotton Mills Ltd. said its normalized net income for the fiscal third quarter ended March 31 amounted to a loss of 45 Pakistani paisa per share, compared with a loss of 38 paisa per share in the prior-year period.

Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was a loss of 10.1 million rupees, compared with a loss of 8.5 million rupees in the prior-year period.

The normalized profit margin declined to negative 1.2% from negative 0.8% in the year-earlier period.

Total revenue fell 17.6% on an annual basis to 850.7 million rupees from 1.03 billion rupees, and total operating expenses declined 18.1% year over year to 858.1 million rupees from 1.05 billion rupees.

Reported net income totaled a loss of 31.0 million rupees, or a loss of 1.37 rupees per share, compared to a loss of 24.9 million rupees, or a loss of 1.09 rupees per share, in the prior-year period.

As of April 29, US$1 was equivalent to 104.80 Pakistani rupees.